While speculation has continued as to whether Steve Jobs will even back at Apple’s helm at the midway point of a self-imposed six month medical leave, WSJ cites unidentified sources who contend the company’s co-founder is still running the show, albeit from his home. Back in January, the 54-year-old Jobs handed day-to-day operations off to COO Tim Cook, as the Apple (NSDQ: AAPL) CEO said he would take time to seek treatment for a hormone imbalance. Jobs’ low profile and emaciated appearance in the weeks prior to his announcement had many speculating that his pancreatic cancer had returned after four years.

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—Smaller than a laptop, bigger than an iPhone: True to his word, WSJ sources maintain, Jobs has been looking over major strategic decisions. He is said to be managing the future products, including new versions of the iPhone and a portable gadget that is smaller than a laptop, but larger than the iPhone. Apple has insisted that Jobs will indeed return in June. At the same time, the company has been trying to convince investors that the company does not live or die with Jobs’ fate and that it has a roster of capable executives who have been stepping up. While Apple has been very careful about relaying information of Jobs’ health status, the WSJ piece could be an attempt by the company to further manage the worries about Jobs as the fragile Q1 earnings season kicks off this week.

Photo Credit: Danny Novo